Tubong lugaw! Lacson: Pharmally may have earned P1.5B from just one PS-DBM contract
Tubong lugaw! Lacson: Pharmally may have earned P1.5B from just one PS-DBM contract Pharmally Pharmaceutical Corp. enjoyed windfall profits from the contracts it won from the Procurement Service of the Department of Budget and Management, with one order alone netting the company P1.5 billion in earnings, Senator Panfilo Lacson said Monday (Sept. 13). Lacson said it was important for the Senate Blue Ribbon Committee to determine how much of the P42 billion transferred by the Department of Health (DOH) to the PS-DBM went to Pharmally as payment for medical supplies. Citing information shared by Pharmally president Huang Tzu Yen in the Sept. 10 Senate hearing, Lacson said the company may have earned P1.5 billion from supplying two million sets of personal protective equipment (PPE) worth P1,910 each, for a total of P3.8 billion. The PPE sets, Lacson added, were bought by former presidential economic adviser Michael Yang from Chinese suppliers at P1,150 each, which meant the company ...